what is maximum social security benefit in 2023

what is maximum social security benefit in 2023

1 year ago 33
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The maximum Social Security benefit in 2023 depends on the age you retire and your earnings history, among other factors. According to the Social Security Administration, the maximum benefit is $3,627 per month for someone at full retirement age (FRA) at age 66. However, if you qualify and delay claiming until age 70, the absolute maximum benefit is $4,555 per month. If you retire at age 62 in 2023, your maximum benefit would be $2,572, and if you retire at age 70 in 2023, your maximum benefit would be $4,555. Its important to note that to receive the maximum Social Security benefit, you would need to earn at least the maximum wage taxable by Social Security for 35 years and delay claiming the benefit until you reach 70.

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